Government Of National UNITY Working On PDV Debt Reduction

Basseterre, St. Kitts, May 30, 2016 (SKNIS): The Government of National Unity is making strides towards reducing a substantial debt owed by the Federation of St Kitts and Nevis to the Government of the Bolivarian Republic of Venezuela.

Speaking at his monthly press conference on Monday May 30, 2016, Prime Minister of St. Kitts and Nevis and Minister of Finance, Dr. the Honourable Timothy Harris referred to the debt as a part of the bad inheritance that the Team Unity Administration received once taking office after the February 2015 General Elections.

“You wonder about the irresponsibility of the last Government who liked to boast that they had so much money and yet refused to pay their debt,” said the Prime Minister Harris, adding that, “there is something not too healthy about people who are in debt and would not make arrangements to pay it.”

Dr. Harris, revealing that the “significant backlog” has been the subject of ongoing discussions between his Government and the Government of the Bolivarian Republic of Venezuela, indicated that the Federation’s Financial Secretary, Mrs. Hillary Hazel is scheduled to meet with officials from PDV St Kitts and Nevis on Tuesday “to deal with this matter.”

While guest on a recent edition of the Government’s radio and television programme “Working for You,” Minister of Public Infrastructure, the Honourable Ian Patches Liburd, disclosed that the Government of St Kitts and Nevis had accrued a debt of near USD $200 million to PDV St Kitts and Nevis between the years of 2009 and 2011.